| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 22nd | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1295 Santa Rosa St, Clearwater, FL, 33756, US |
| Region / Metro | Clearwater |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2023-01-31 |
| Transaction Price | $2,500,000 |
| Buyer | 1295 SANTA ROSA LLC |
| Seller | CLEARWATER WESTCHESTER APARTMENTS LLC |
1295 Santa Rosa St Clearwater 20-Unit Multifamily
Renter demand is supported by a high neighborhood renter-occupied share and daily-needs retail density, according to WDSuite’s CRE market data, while leasing remains competitive relative to metro norms. Investors should underwrite for steady absorption rather than rapid lease-up and focus on retention to capture stable cash flow.
Located in Clearwater’s inner-suburban fabric, the property sits in a neighborhood with strong daily conveniences: grocery and pharmacy access rank in the upper decile metro-wide, while restaurants are plentiful. Cafe and park access are thinner, so resident appeal leans more toward practical amenities than lifestyle niches. These dynamics can aid day‑to‑day livability and resident retention.
The neighborhood’s renter-occupied share is 67.4%, indicating a deep tenant base for small multifamily assets and supporting ongoing leasing activity. By contrast, overall occupancy in the neighborhood trends below the metro median, so competitive positioning and renewal strategies matter to sustain performance.
Within a 3‑mile radius, recent trends show modest population growth with a larger increase in households, and forecasts point to further population and household expansion over the next five years. This suggests a gradually expanding renter pool that can support occupancy stability and measured rent growth for well-managed assets.
Contract rents in the neighborhood benchmark around the national midpoint, while the rent‑to‑income ratio near 30% signals some affordability pressure that owners should manage through renewal planning and amenity/value differentiation. The average construction vintage locally skews older; a 1973 asset can be competitive versus 1960s stock, though investors should still plan for system updates and targeted value‑add to meet contemporary renter expectations.
Safety performance in the immediate neighborhood trends below national medians, indicating more crime exposure than the typical U.S. neighborhood and below metro averages in Tampa–St. Petersburg–Clearwater. Recent data show property and violent offense rates that warrant standard risk controls such as lighting, access management, and proactive tenant screening. These are neighborhood-level indicators, not property-specific conditions, and trends should be reviewed alongside current police and community reports for trajectory.
Nearby corporate employers provide a diverse white‑collar employment base that supports renter demand and retention through commute convenience, including technology distribution, financial services, electronics manufacturing, and managed care.
- Tech Data — technology distribution (5.6 miles) — HQ
- Raymond James Financial — financial services (8.8 miles) — HQ
- Jabil Circuit — electronics manufacturing (10.6 miles) — HQ
- Wellcare Health Plans — managed care (15.2 miles) — HQ
This 20‑unit 1973 community offers exposure to a high renter concentration and strong daily-needs retail access in Clearwater’s inner suburbs. Based on CRE market data from WDSuite, neighborhood occupancy trails the metro median, so returns will depend on disciplined leasing, renewals, and selective unit upgrades. Within a 3‑mile radius, both recent and forecast growth in population and households point to a gradually expanding tenant base that can underpin steady demand.
The vintage provides value‑add angles: relative to older 1960s stock nearby, a 1973 asset can compete on layout and systems after targeted renovations, while still budgeting for aging mechanicals. Affordability is manageable but tight for some cohorts given rent‑to‑income readings near 30%, suggesting an emphasis on retention, modest upgrade premiums, and expense control to support durable NOI.
- Deep renter base supports demand; daily-needs retail density aids retention
- Value‑add potential from 1973 vintage with targeted interior and system updates
- Gradual 3‑mile population and household growth supports occupancy stability
- Risk: neighborhood safety below national medians; incorporate security and screening
- Risk: below‑median neighborhood occupancy and rent‑to‑income near 30% require renewal focus